The message is clear: If you want to make money, make video first.
There is an arms race in digital video, and the victor will be the fastest, the slickest, and eventually, the richest.
Video advertising is the future – and the present – for media executives frustrated with low revenues from advertising on audio, like podcasts, or on text pages.
Spotify is the most recent entrant. The music streaming service announced on Wednesday that it would begin hosting video clips from ESPN, Comedy Central and NBC.
What would make a music company get into video? Here’s a graphic, with data courtesy of eMarketer, showing how video has grown in online ad spending. It’s the kind of money that’s impossible to ignore.